Tata Steel To Consider Dividend & Stock Split Next Week: Details Inside

Tata Steel, one of India's largest steel producers, has announced that a meeting of the company's Board of Directors will be held on May 3, 2022, to consider a stock split with a face value of Rs 10/- each, recommend dividend, if any, for the fiscal year ended March 31, 2022 and to announce standalone and consolidated results for the fiscal year ended March 31, 2022.

The company has informed BSE by saying that "A meeting of the Board of Directors of Tata Steel Limited ('the Company') will be held on Tuesday, May 3, 2022, inter alia to consider and take on record the audited Standalone and unaudited Consolidated financial statements and results for the quarter ended March 31, 2022; to consider and take on record the audited Standalone and Consolidated financial statements and results for the financial year ended March 31, 2022; recommend dividend, if any, for the financial year ended March 31, 2022; and to consider a proposal for sub-division of the Equity shares of the Company having a face value of Rs 10/- each, in such manner as may be determined by the Board of Directors, subject to regulatory/statutory approvals as may be required and the approval of the shareholders of the Company."

On the NSE, the company's shares have gained by 22.82 per cent in a year, while the stock has climbed by 11.16 per cent year-to-date (YTD). The stock has dropped -6.95 per cent in the previous six months, compared to a 10.35 per cent gain in the Nifty Metal Index. The stock has dropped -2.91 per cent in the previous month, compared to a -1.58 per cent drop in the Nifty Metal Index. The stock has gained 1.62 per cent in the previous five trading days, compared to a 0.12 per cent jump in the Nifty Metal Index.

In today's closing session, the stock closed at Rs 1,270, up from the previous close of Rs 1260.85 on Friday, a gain of +9.15 (0.73 per cent). As of March 31, 2022, Tata Steel Ltd has the highest weightage in the Nifty Metal Index, with 22.89 per cent, followed by Hindalco Industries Ltd (18.06 per cent), JSW Steel Ltd (15.38 per cent), Adani Enterprises Ltd (12.02 per cent), and Vedanta Ltd (9.76 per cent). The Nifty Metal Index closed at Rs 6,327.30 today, down 35.10 points from the previous level of Rs 6362.40.

In the Nifty Metal Index, Jindal Stainless (Hisar) Ltd up by 1.37%, Apl Apollo Tube up by 1.36%, Tata Steel up by 0.73%, Hindustan Zinc Ltd up by 0.45%, and Ratnamani Metals and Tubes Limited up by 0.26% were the top 5 gainers today whereas National Aluminium Company Limited down by -2.73%, Welspun Corp Ltd down by -2.00%, Adani Enterprises Ltd down by -1.75%, NMDC Limited down by -1.38% and Steel Authority of India Ltd down by -1.07% were the top 5 losers on Friday's closing session.